$SAND Liquidated Short Update: $189K at $0.743
The recent liquidation of $189K in short positions at $0.743 signals a potential shift in the market for SAND. Here's everything you need to know:
What Just Happened?
A significant short liquidation like this indicates strong buying pressure. When shorts are forced to close, it adds to upward momentum, suggesting that the market could be positioning for a bullish trend.
Next Steps: Plan Your Trade
Here’s a detailed strategy with buy zones, targets, and stop-loss levels to help you navigate:
1. Buy Zone
Ideal Entry Points:
$0.730 to $0.745: If the price pulls back slightly, this is a great accumulation zone.
$0.700 (Low-Risk Entry): If there's more correction, use this as a safer entry.
2. Targets
Short-Term Target: $0.780
A logical resistance zone based on recent market activity.
Mid-Term Target: $0.810
Strong bullish momentum could push the price higher to test this level.
Long-Term Target: $0.850
This level aligns with previous highs and could be achieved if the bullish sentiment continues.
3. Stop-Loss
Set Your Stop-Loss: $0.695
If the price breaks below this level, it indicates that the bullish momentum has weakened.
Key Points to Watch
Volume Trends: Look for increasing buying volume; it supports the upward momentum.
Market Sentiment: Monitor broader crypto market trends to confirm SAND's direction.
Resistance Levels: Watch out for resistance at $0.780 and $0.810, which could slow the rally.
Final Advice
Stay disciplined and stick to your trading plan.
Avoid FOMO (Fear of Missing Out); always wait for the price to reach your buy zone.
Monitor SAND closely, as significant short liquidations often lead to volatility.
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